Honestly DFS work is a massive cash burn for any company, and Vanadium particularly. They are cashed up but I wouldn't be surprised if they need a final dip to get the DFS over the line.
Just my opinion/guess, so that could put a possible rise maybe late June/July. Depends the extent of further infill required and various studies/test work that is ongoing.
Any estimate would be a bit of a guess probably even for TMT.
Ann: TMT Investor Presentation - March 2019, page-5
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